The present invention relates generally to data processing systems and more particularly to a distributed budgeting and accounting system with secure token device access.
Most corporations and other business entities employ some type of computerized budgeting system and some type of computerized accounting system. The computerized budgeting system allows managers to define budgets for respective departments and produces reports that detail the established budgets. The computerized accounting system identifies external accounts receivable and accounts payable. The accounting system may also identify various expenses that are attributed to respective departments.
Such conventional computerized budgeting systems and computerized accounting systems have a number of drawbacks. First, many such systems are not especially well adapted for tracking internal resource usage. The systems are much better adapted for tracking external resource usage. Second, these conventional systems are typically expensive to administer. For instance, they often require the expense of data entry workers for entering information into computer systems. Third, these conventional systems generate a great deal of unnecessary paperwork. For example, an employee may be required to complete a requisition form and have the requisition form approved by a superior (such as by the superior signing the requisition) before a resource is granted to the employee. The employee is subsequently sent an invoice for the charges assessed for using the resource. As a result, large amounts of paperwork are generated for fairly simple transactions.
Many conventional systems do not produce accurate pictures of resource consumption. These conventional systems have no mechanism for monitoring actual usage of resources, such as network bandwidth. The budgeting systems are also inaccurate in that the cost of the resources is often shared equally among multiple parties based upon an estimation of use rather than actual use of the resource.
Thus, there is the need for an improved computerized budgeting system and computerized accounting system.
The present invention addresses the limitations of the prior art by providing a distributed budgeting and accounting system that utilizes secure token devices, such as smart cards or ibuttons. A secure token device is a device that holds currency tokens and other information in a secure fashion. Preferably, the secure token device is of a size, shape and weight that it is easily carried by a user. The secure token devices are used both for authentication and for participation in electronic commerce. Specifically, the secure token devices hold electronic currency tokens that may be utilized to pay for the use of resources within an internal economy of an organization, such as a corporation. The secure token devices also securely hold identification information that is used to confirm that a party is who the party purports to be. To that end, the secure token device serves as a vehicle for decreasing fraudulent use of resources. The owner of a secure token device may be required to enter a personal identification number (PIN) prior to gaining access to a resource to ensure that the proper party is using the secure token device.
The distributed budgeting and accounting system of the present invention allows holders of secure token devices to gain access to internal resources of an organization. These internal resources may be, for example, computing resources but may also be non-computing resources that need to be monitored. In order to use a resource, a holder (i.e. a xe2x80x9cresource consumerxe2x80x9d) must place a secure token device that is owned by the holder into communication with a reader. Based upon identification information contained within the secure token device, the system may determine whether the holder is permitted to access the resource or not. The secure token device is then debited to cover the cost of using the resource. This debiting may entail transmitting electronic currency tokens from the secure token device of the holder to a service provider secure token device or virtual service provider account.
In one embodiment of the present invention, a hierarchy of secure token devices may be defined for the internal economy of the organization. The hierarchy parallels the logical hierarchy of the organization. Electronic currency tokens flow from a currency secure token device at the top of the hierarchy to secure token devices for upper levels of the organizations based upon a defined internal budget. In a corporation, these upper levels may constitute business units. The electronic currency may further flow down to secure token devices for lower levels of the organization. In a corporation, the electronic currency may flow from the secure token devices of business units to sub-units and from the secure token devices of sub-units to the secure token devices of employees based upon the budget. The hierarchical organization of the budget flow is configurable and may be defined by the organization.
Electronic currency may also flow upward in the hierarchy to return unused electronic currency to higher levels of the hierarchy. Moreover, electronic currency that has been accumulated due to the use of resources that are provided by a service provider may be forwarded up the hierarchy to be returned ultimately to a central bank secure token device.
The present invention has the benefit of requiring little paperwork. No requisitions or invoices are needed in this system. A holder of a secure token device is distributed electronic currency tokens and preauthorized to spend those tokens based upon defined rights of the holder. It is up to the holder to determine how to spend those electronic currency tokens on internal resources. The holder consumes the resources and pays for use of the resources. There is also no need to generate invoices as a holder of a secure token device is charged for the use of resources at the time that the holder requests to use the resources.
The present invention also enhances the accuracy of the budgeting and accounting processes. An employee or business unit may not exceed their budget without knowledge of the appropriate parties. The amount of electronic currency that is transferred to an employee or business unit manager defines the extent of the budget. In order to exceed the budget, the employee or business manager must obtain added electronic currency from the appropriate empowered parties.
The present invention has the further benefit of accurately accounting for the use of resources. A record of each use of a resource is automatically provided by the distributed budgeting and accounting system. A determination is made a priori as to what resources are to have an associated expense for which resource usage is to be tracked.